SAN DIEGO, Feb. 24, 2017 (GLOBE NEWSWIRE) -- TearLab Corporation (NASDAQ:TEAR) (TSX:TLB) (the 'Company') today announced that it will effect a 1-for-10 reverse stock split previously approved by the Company's stockholders at a special meeting held on February 23, 2017. The 1-for-10 reverse stock split will be effective as of the close of business on Friday, February 24, 2017, and the Company's common stock will begin trading on a split-adjusted basis on Monday, February 27, 2017 on both the Nasdaq Capital Market (Nasdaq) and the Toronto Stock Exchange (TSX).
The reverse stock split is intended to increase the price per share of the Company's common stock to allow the Company to demonstrate compliance with the $1.00 minimum bid price requirement for continued listing on the Nasdaq. The trading symbol will remain TEAR on the Nasdaq and TLB on the TSX. Proportional adjustments will be made to the conversion and exercise prices of the Company's outstanding warrants, convertible preferred stock and stock options, and to the number of shares issued and issuable under the Company's equity compensation plans. The number of authorized shares of the Company's common stock will be reduced to 9,500,000 shares.
Here are the Split/Second System Requirements (Minimum) CPU: 2.6 GHz Intel® Pentium® D processor (Windows XP®) or 2.0 GHz AMD Athlon™ 64 X2 or equivalent processor (3.0 GHz Intel® Pentium® D processor for Windows® 7 / Vista®) RAM: 2.5 GB RAM (Windows® 7 / Vista®) / 2.0 GB RAM (Windows XP®). However, you are currently at Lab Tests Online. You may have been directed here by your lab's website in order to provide you with background information about the test(s) you had performed. You will need to return to your lab's website or portal, or contact your healthcare practitioner in order to obtain your test results.
Information for Stockholders
Upon the effectiveness of the reverse stock split, each ten shares of the Company's issued and outstanding common stock will be automatically combined and converted into one issued and outstanding share of common stock, par value $0.001 per share. The Company will not issue any fractional shares in connection with the reverse stock split. Instead, a cash payment will automatically be made in lieu of any fractional shares. The reverse stock split will not modify the rights or preferences of the common stock.
The Company's transfer agent, Computershare Trust Company, N.A. ('Computershare'), will act as its exchange agent for the reverse stock split. Computershare will provide stockholders of record holding certificates representing pre-split shares of the Company's common stock as of the effective date a letter of transmittal providing instructions for the exchange of shares. Registered stockholders holding pre-split shares of the Company's common stock electronically in book-entry form are not required to take any action to receive post-split shares. Stockholders owning shares via a broker or other nominee will have their positions automatically adjusted to reflect the reverse stock split, subject to brokers' particular processes, and will not be required to take any action in connection with the reverse stock split.
For questions about the exchange of pre-split shares, please contact Computershare at (800) 546-5141, within the United States, United States territories and Canada. For assistance outside the United States, United States territories and Canada, please call +1 (781) 575-2765.
Additional information pertaining to the reverse split, including on how to exchange shares, is contained in the Company's proxy statement filed with the U.S. Securities and Exchange Commission on January 3, 2017.
About TearLab Corporation
Split Lab 1 0 1
TearLab Corporation (www.tearlab.com) develops and markets lab-on-a-chip technologies that enable eye care practitioners to improve standard of care by objectively and quantitatively testing for disease markers in tears at the point-of-care. The TearLab Osmolarity Test, for diagnosing Dry Eye Disease, is the first assay developed for the award-winning TearLab Osmolarity System. TearLab Corporation's common shares trade on the NASDAQ Capital Market under the symbol 'TEAR' and on the Toronto Stock Exchange under the symbol 'TLB'.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, among others, statements concerning whether the reverse stock split will increase the price of our common shares and whether we will be able to maintain our Nasdaq Capital Market Listing. These forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to be materially different from any future results expressed or implied by the forward-looking statements. Forward-looking statements are based on management's current, preliminary expectations and are subject to various risks and uncertainties. Many factors, risks and uncertainties may cause our actual results to differ materially from forward-looking statements, including the factors, risks, and uncertainties detailed in our filings with the Securities and Exchange Commission and Canadian securities regulatory authorities, including but not limited to our Annual Report on Form 10-K for the year ended December 31, 2015, filed with the SEC on March 9, 2016, and our Quarterly Report on Form 10-Q for the quarter ended September 30, 2016, filed with the SEC on November 9, 2016. We do not undertake to update any forward-looking statements except as required by law.
All DatasetBuilders expose various data subsets defined as splits (eg:train, test). When constructing a tf.data.Dataset instance using eithertfds.load() or tfds.DatasetBuilder.as_dataset(), one can specify whichsplit(s) to retrieve. It is also possible to retrieve slice(s) of split(s)as well as combinations of those.
- Slicing API
Slicing API
Slicing instructions are specified in tfds.load or tfds.DatasetBuilder.as_dataset.
Instructions can be provided as either strings or ReadInstructions. Stringsare more compact and readable for simple cases, while ReadInstructions providemore options and might be easier to use with variable slicing parameters.
test[0:100] followed bytest[100:200] may yield examples in a different order than readingtest[:200].Examples
Examples using the string API: Photolemur 2 2 1 – automated photo enhancement tool.
Examples using the ReadInstruction API (equivalent as above):
tfds.even_splits
Split Lab 1 0 1
TearLab Corporation (www.tearlab.com) develops and markets lab-on-a-chip technologies that enable eye care practitioners to improve standard of care by objectively and quantitatively testing for disease markers in tears at the point-of-care. The TearLab Osmolarity Test, for diagnosing Dry Eye Disease, is the first assay developed for the award-winning TearLab Osmolarity System. TearLab Corporation's common shares trade on the NASDAQ Capital Market under the symbol 'TEAR' and on the Toronto Stock Exchange under the symbol 'TLB'.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, among others, statements concerning whether the reverse stock split will increase the price of our common shares and whether we will be able to maintain our Nasdaq Capital Market Listing. These forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to be materially different from any future results expressed or implied by the forward-looking statements. Forward-looking statements are based on management's current, preliminary expectations and are subject to various risks and uncertainties. Many factors, risks and uncertainties may cause our actual results to differ materially from forward-looking statements, including the factors, risks, and uncertainties detailed in our filings with the Securities and Exchange Commission and Canadian securities regulatory authorities, including but not limited to our Annual Report on Form 10-K for the year ended December 31, 2015, filed with the SEC on March 9, 2016, and our Quarterly Report on Form 10-Q for the quarter ended September 30, 2016, filed with the SEC on November 9, 2016. We do not undertake to update any forward-looking statements except as required by law.
All DatasetBuilders expose various data subsets defined as splits (eg:train, test). When constructing a tf.data.Dataset instance using eithertfds.load() or tfds.DatasetBuilder.as_dataset(), one can specify whichsplit(s) to retrieve. It is also possible to retrieve slice(s) of split(s)as well as combinations of those.
- Slicing API
Slicing API
Slicing instructions are specified in tfds.load or tfds.DatasetBuilder.as_dataset.
Instructions can be provided as either strings or ReadInstructions. Stringsare more compact and readable for simple cases, while ReadInstructions providemore options and might be easier to use with variable slicing parameters.
test[0:100] followed bytest[100:200] may yield examples in a different order than readingtest[:200].Examples
Examples using the string API: Photolemur 2 2 1 – automated photo enhancement tool.
Examples using the ReadInstruction API (equivalent as above):
tfds.even_splits
tfds.even_splits generates a list of non-overlapping sub-splits of same size.
Percentage slicing and rounding
If a slice of a split is requested using the percent (%) unit, and therequested slice boundaries do not divide evenly by 100, then the defaultbehaviour it to round boundaries to the nearest integer (closest). This meansthat some slices may contain more examples than others. For example:
Alternatively, the user can use the rounding pct1_dropremainder, so specifiedpercentage boundaries are treated as multiples of 1%. This option should be usedwhen consistency is needed (eg: len(5%) 5 * len(1%)). This means the lastexamples may be truncated if info.split[split_name].num_examples % 100 != 0.
Example:
Split Lab 1 0 Percent
Reproducibility
Split Lab 1 0 2
The sub-split API guarantees that any given split slice (or ReadInstruction)will always produce the same set of records on a given dataset, as long as themajor version of the dataset is constant.
For example, tfds.load('mnist:3.0.0', split='train[10:20]') andtfds.load('mnist:3.2.0', split='train[10:20]') will always contain the sameelements - regardless of platform, architecture, etc. - even though some ofthe records might have different values (eg: imgage encoding, label, ..).
